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The EY Ripples Team in SGV finished its three mentoring sessions held in the last quarter of 2021 through the JA Business Skills Pass program. Co-organized with Junior Achievement Philippines Incorporated (JAPI), the program continued from last year’s mentoring sessions where high school students created registered mini companies. SGV volunteers provided advice and insights on the students’ business plans. These involved topics including raising capital, accounting, and marketing and selling the companies’ products. JA Business Skills Pass program mentors and participants As the students execute their plans, they will sell their products in an online marketplace managed by JA and will compete for the Best Company. Two group winners will then represent the country in the competition for the JA Asia-Pacific Company of the Year award.  EY Ripples is a global corporate responsibility program that provides EY professionals with opportunities to use their knowledge, skills, and experience to positively impact millions of lives by working with impact entrepreneurs and supporting the next generation to develop mindsets and skills to find and sustain meaningful work.

MUS during the PICPA SMMC webinar The Philippine Institute of Certified Public Accountants Southern Metro Manila Chapter (PICPA SMMC) organized a webinar entitled Deferred Income Tax 101: Understanding and Application of the Concepts on 15 October 2021. MUS was the speaker at the event, which was attended by over 255 participants. 

SGV Consulting Senior Advisor, former Consulting Partner and 2020-2021 President of the Asian Confederation of Institutes of Internal Auditors (ACIIA), Rebecca G. Sarmenta (RGS), was a speaker during the ACIIA Audit Committee Forum 2021 event that was conducted on 18 November 2021 in South Korea. RGS at the Asian Confederation of Institutes of Internal Auditors (ACIIA) Audit Committee Forum 2021  The event was hosted by the Institute of Internal Auditors (IIA) Korea and was physically and virtually attended by more than 300 internal audit professionals from 17 countries.  Participants included Audit Committee members, Chief Audit Executives (CAEs), Certified Internal Auditors (CIAs), directors and managerial executives, and internal auditors from South Korea and other countries. With the theme of “Beyond Change; Leading through a crisis,” the event was aimed at enhancing the value of internal auditors and the IA role in ensuring competitiveness in today’s environment characterized by unprecedented change and disruption.  RGS presented the results of the survey conducted by ACIIA and SGV on Internal Audit Transformed: Emerging Risks, Trends, and Opportunities.  The survey results show that as IA moves forward to a future with significant uncertainty, the IA function must evolve by recalibrating its methodology, operational model, technology and talent to flexibly address rapid changes in the business environment. IA is  well-positioned to challenge and advise on the risk landscape that business leaders should consider.

EY supported the launching activity of the Inter-Agency Technical Working Group for Sustainable Finance (Green Force) and the British Embassy in Manila (BEM) titled Philippine Sustainable Roadmap and Guiding Principles on the use of Low Carbon Energy on 20 October 2021. EY is a delivery partner of the ASEAN Low Carbon Energy Program. The in-country team was led by Strategy and Transactions (SaT) Partner Smith C. Lim (SCL) as the Green Force Resident Adviser and was supported by Climate Change and Sustainability Services (CCaSS) Senior Manager Katrina Francisco, SaT Associate Director Kieth Andaya, and SaT Senior Associates Pamela Buerano, Mikee Villaroman and Winzelle Geonzon. Forum poster The event presented the Philippine Sustainable Finance Roadmap and the Seven Guiding Principles (GP) on policy and regulatory gaps in promoting sustainable investments through finance, implementing sustainable government initiatives, facilitating investments in public infrastructure and developing projects that promote sustainable financing in the Philippines.  Speakers during the event were EY Director Russell Marsh, Chairperson-designate of the Climate Change Commission (CCC) and DOF Secretary Carlos Dominguez Ill, British Ambassador-designate Laure Beaufils and BSP Governor Benjamin Diokno.

SGV and BlackLine conducted a webinar on “The Future of Finance for Shared Services Organizations” on 7 December 2021. Participants from various shared services organizations were present at the event. SGV Partners with BlackLine’s VP of Strategic Accounts (Asia) Alex Chun and SAP Value Architect Jim Hawthorne The webinar was opened by EY Asean and Philippines FAAS Leader and SGV Market Group 7 Leader Aris C. Malantic (ACM) and BlackLine’s Vice President of Strategic Accounts (Asia) Alex Chun. SGV FAAS and CCaSS Partner Benjamin N. Villacorte (BNV) led the first part of the session where he discussed how the role of finance leaders has evolved and how the finance function is expected to likewise transform, with an increased focus on long-term value. BNV also emphasized the increasing need for the finance function to support key decisions across the organization and how technology in shared services organizations can help drive efficiencies and greater insights. The second part of the webinar was led by BlackLine’s Jim Hawthorne, who discussed how shared services organizations can realize the benefits of modernizing certain finance and accounting tasks through technology. The webinar concluded with a panel discussion moderated by ACM, together with BNV, SGV Consulting Partners Maria Kathrina S. Macaisa-Peña (KSM) and Jan Ray G. Manlapaz (RGM), and BlackLine’s Jim Hawthorne as panelists. BNV shared his thoughts on how leaders can address the impact of transformation on an organization’s employees. KSM emphasized the need for shared services organizations to devote more time to providing better insights to the organization. RGM discussed the importance of understanding the challenges of the organization and developing a business case for transformation initiatives. Jim shared his experiences on how automation of certain tasks through BlackLine has helped in the transformation of the finance function. ACM closed the webinar by highlighting the critical role that finance teams are expected to play in driving the transformation projects of their respective organizations. The webinar was organized by SGV FAAS managers Alexander Bughaw, Dwayne Justin Ignacio, Marilen Quicio, Jan Chester Tubigan, Jerwin Esquibel and John Edralin, in coordination with the BlackLine team.

SGV Assurance Director John S. Edralin was invited to be a speaker at Level Up: USC Accountancy and Business Convention 2021 on 26 November 2021. The activity was hosted by the University of San Carlos (USC) and was attended by accountancy and senior high school students from various educational institutions in Cebu. John entertaining questions during the open the forum John’s presentation, From Worksheet to Reality, talked about the role of accountants and their influence on society. His discussion revolved around the transition from being a student to an accountant and finding balance between being an accountant and a citizen.  Other speakers included Commission on Audit (COA) State Auditor 1 Winnie Anne Gallur and Mezzo Hotel President and CEO Shannen Tan. The convention ended with an open forum which was facilitated by the moderators from USC and resource speakers for the activity.

SGV Climate Change and Sustainability Services Associate Engr. Kerby Z. Panaligan was invited by the Association of Food Engineering Students (AFES) under the Chemical and Food Engineering Department of Batangas State University Alangilan - College of Engineering, Architecture, and Fine Arts (CEAFA) to be one of the guest speakers in a webinar titled “LIE LAW: An Environmental Laws and Regulations Webinar” on 12 December 2021.  Engr. Panaligan answering questions from the participants Engr. Panaligan provided basic information about RA 8749: The Philippine Clean Air Act of 1999. He also shared updates on the status of ambient air quality in the Philippines, and the environmental, social, and economic impact of air pollution. He concluded his talk by discussing the relationship between food production and air pollution, as well as corresponding actions that food engineering students can take in mitigating air pollution. He then addressed participants’ questions in an open forum.  Over 60 food engineering students together with their Environmental Engineering instructor and webinar organizer, Engr. Nico John Abratique, and the Chemical and Food Engineering Department Chair, Engr. Rejie Magnaye, attended the event.

SGV Global Compliance & Reporting (GCR) team facilitated a two-day tax webinar on 6 and 13 November 2021 for students of the University of San Carlos (USC) on significant changes in tax rules and regulations in the Philippines. ACE and MUS discussing double-taxation agreements On 6 November, Tax Partner Aaron C. Escartin (ACE) began the series with a discussion on double-taxation agreements. Tax Partner Maricris U. See (MUS) then discussed the tax incentives granted to Board of Investments (BOI)-registered entities. Marivic and ACE discussing changes in corporate taxes On 13 November, Tax Senior Director Marivic M. Rebulanan discussed the tax incentives granted to Philippine Economic Zone Authority (PEZA)-registered entities (old rules). She also emphasized the salient features of Republic Act (RA) No. 11534 or the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, alongside ACE. They covered the changes in corporate tax and other taxes, rationalization of fiscal incentives, and the impact of these changes on financial reporting.  Participants from USC during the tax lectures Over 550 students participated in the two-day tax lecture series. The SGV team included Senior Associates Edsel Francis T. Lima, Eula Daphne G. Chua, and Charmaine Joyce G. Yu; and Associates Roselle Marie A. Sacorum, Jessmar G. Insigne, Alizza Mae A. Joven, and Eiren Joy T. Uy. This tax-lecture series is part of a GCR roadshow initiative to impart tax knowledge to future accountants and expose them to possible opportunities in practice.

SGV was the official tabulator at the Miss Earth 2021 Pageant streamed on the official Facebook page and YouTube channel of Miss Earth on 21 November 2021. The Miss Earth Pageant is an international beauty pageant that promotes environmental awareness, conservation and social responsibility. Miss Earth also aims to showcase and promote various tourist destinations.  In celebration of its 21st year, Miss Earth adopted the theme Colors of the Earth to highlight biodiversity and encourage a positive outlook for the coming years amidst the COVID-19 pandemic.           Miss Earth 2021 Tabulators Market Group 2 Assurance Partner Mariecris N. Barbaso (MNB) led the SGV team that conducted an independent tabulation of scores cast by the judges. Completing the team were Assurance Senior Manager Crystal Aleli Cornell, Associate Director Angelu Daphne Villanueva, Senior Associates Arkangela Jerusha Tobes and Dian Michelle Luis, Associates Mia Claire Mapola and Anna Marie Corpuz, Business Consulting Senior Manager Elvin Mercader, Senior Associate Lucky Wilmar Cimatu, and Associates Alyssa Tapican and Patrick Justin Diaz. Destiny Wagner from Belize was crowned as Miss Earth 2021. She succeeded Miss Earth 2020 Lindsey Coffey from the United States of America. The winner of Miss Earth serves as an Ambassador to environmental protection campaigns worldwide.

SGV Indirect Tax & Global Trade Senior Director Atty. Alden Patrick Labaguis and Cybersecurity Technology Consulting Senior Director Mark Anthony Javiero, together with Climate Change and Sustainability Services Associate Director Ma. Rebecca Ruiz were the guest speakers at the Association of Semiconductor and Electronics Industries in the Philippines Foundation, Inc. (SEIPI) Finance Executives (ASEFEX) Fourth Quarter General Membership meeting on 16 December 2021.   Atty. Labaguis was invited to share his insights on the amendments to the CREATE Law’s Implementing Rules and Regulations. Mr. Javiero, on the other hand, discussed the ins and outs of Cybersecurity and how well the industry is protected from cyberattacks. Lastly, Ms. Ruiz discussed decarbonization of current industry practices and sustainable solutions.  The meeting concluded after an open forum where the speakers addressed the participants’ questions.  Participation in the virtual briefing was coordinated by Logistics Industry Leader and Tax Principal Stephanie V. Nava (SVN) and Technology Industry Leader and Assurance Partner Manolito R. Elle (MRE). The briefing’s coordination and organizing team included Tax Associate Director Gracia Mae A. Beronilla and Tax Senior Associate Roland Joseph C. Mendoza.